(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Turbine Market in South Africa 2015-2019" on their comprehensive research portal.
A turbine is a mechanical device consisting of revolving rotors and blades which transforms rotational energy into usable energy. The fluid used for the rotation can be steam gas or other combustion products such as CO2 and carbon monoxide. There are three types of turbines: steam gas and CCGT. Steam turbine extracts thermal energy from steam and converts it into mechanical energy. Gas turbine is generally used in gas-fired power plants where an internal combustion engine is placed in which the fuel is mixed with air and ignited. Because of the growing awareness about the environmental pollution caused by thermal power plants most of the newly constructed gas-fired power plants are CCGT plants.
Technavio's analysts forecast the Turbine market to grow at a CAGR of 4.3% over the period 2014-2019.
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Commenting on the report an analyst from Technavio’s team said: “Fossil fuel-based power generation dominates in South Africa. The availability of coal oil and gas in the country has escalated the number of installations which will help the country meet the rising power demand. However the harmful emissions of fossil fuel-burning have become an issue for the country; therefore it has pledged to lower GHG emissions by 2020 by diversifying the fuel mix and adopting new renewable technologies. The introduction of the country's carbon tax in 2016 should encourage power plants to adopt more eco-friendly processes but also may hamper the growth of thermal power plants in the country.”
According to the report we estimate South Africa's coal reserves at 53 billion tons. It is estimated that more than 85% of the overall thermal power plants in the country run on coal as the primary fuel and around 93% of the country's overall electricity was produced by using coal-fired power plants. South Africa produces an average of 224 million tons of coal annually which makes it the fifth-largest producer of coal in the world. The country was the third largest exporter of coal in 2013 and exported almost 25% of the overall production. Its coal reserves are estimated at 53 billion tons. Coal is the major fuel used in producing electricity around 93% of the overall electricity was produced by using coal-fired power plants. Given the vast availability of coal resources the country had installed huge coal-fired power plants with a capacity of more than 3 GW. The availability of coal prompts the installation of more power plants in the country which in turn drives the market for steam turbines.
Further the report states that one of the main challenges hindering the growth of the market are the rising costs delay power plant operations.
The key players in the Turbine Market in South Africa are Alstom GE Hitachi and Siemens while other prominent vendors include ABB and MAN PrimeServ
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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